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Business, 15.05.2020 14:57 katlynnschmolke

Lehman Corporation purchased a machine on January 2, 2020, for $4,000,000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amounts will be deducted for tax purposes:

2020 $800,000 2023 $460,000
2021 1,280,000 2024 460,000
2022 768,000 2025 232,000

Assuming an income tax rate of 20% for all years, the net deferred tax liability that should be reflected on Lehman's balance sheet at December 31, 2021 be.

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Lehman Corporation purchased a machine on January 2, 2020, for $4,000,000. The machine has an estima...
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